Telegram-herald., 1887-03-26
THE STATE Of TRADE
Activity on Account Of the
Inter State Lax.
TIE VOLUME or BasIsEsS LARGE
The Present Activity Means pelt
ness After Aprii 4-Ease IA the
MoneY Market Probable
imporls Vsrs large

NFN N0ek. AAnn Or a. D5a & 90 =
weekly TsYiew II trade VAL szs Aprii Is
close = hand ana some an2ie.Y - - tie
zaoney market 5 sssla. a. has season. re
3suEs asvs be<n ssBdlas isfxr Snsuats 20
iAe Interior through aeeos' 81 tbe fessa-
a. and issues Of silver certificates elsewhere.
aud there las 50 been Aeety eelesnd tor
philadspAiA sxclsnse. - sa.t iurt5rr
decline "a reserve As expected The failure
OF Hunter Nilh bank liabilities 81 Sis4 vs'9.
pzfty on forged paper, following some
failures resulting ff0n LsSioEs fight.
leaves she banks of fhi.a8sipiia and Deia-
ware wiln con-. 1eTabe worthless paper
The western and southern demand IOE
money ha- been Intensified by taT desire -
shin products before the inter STATE act and
'hs change OF rates SO into effect Though
tie demand st ChlcssD II rep0rtea diminish
ing Esges sTs q ~ 5 per cent. al the circun-
stances MAKE iE comparatively easy Tor an
operator 10 produce tight money II he
picases.
The treasury has taken IN 81 .109.000 more
god than if hss paid out during tie pasl
week bu; has added s. 0looiu 20 the out
standing silver certificates and pat out
some legal Tenders also. the reduction 81
abundance OF money there favor continued
ease ia this market Is does the later fore ga
trade. exports from New York foT three
weeks being Is per cent larger than last
year. with imports per cent larger. Tie
February Official report SHOWS al incr - se
OF - sO), ,OOJ IN eXpOris over last year. the
amount being the largest since ie5s. but
imports were the large e. OH record Tor
many years in February, sad the excess Of
a 81.
month exceeding imports by Si.55S. lSo.
Another bond call reduces the uncsiied
per cent, aud there is serious discussion Of
the necessity OF purchasing bonds after
July /.
The Interstate bill causes great activity
in shipments oi dry goods and other mer-
chandise 10 anticipate the change OF rates
4 pri 9TH but this means cuilDess after that
dafe. and complaints Of industrial aud COM
merciGl inactivity. respecting business that
depends on future rates, grow more numer-
ous Goal men are waiting the pgOpOsed
new rates for transportation. Dry goods
merchants protest earnestly Sgalnst new
! ciassincatiO1s and especially against the
charge OF higher rates f0r goods ia box
than in bales The selection of comnis-
siOns is thought 10 ioreshsdow a
strong effort 10 adjust rates according
10 distance. Gen. Fink thinks
| the lsw Will tend 10 the crushing Of small
! By larser dealers. and Mr.. Adams thinks il
| hastens the swallowing of weaker by
stronger rosos. Months Of uncertainty
must eaDse before the effects Of the act can
/ he understood.
Railroad business las been large Peunsyl-
vania and Enc reports for February and
most reports for part Of March being very
F.. favorable. West-bouud shipments from
| chief eastern cities were IA, 100 tons IN
| February. against I3s $50 last year. but east
bound tonnage Yss 94I 30 tons against
| 500. .29t tors last year. The temporary
activity Of March does not indicate
| larger business after the change 0! rates,
| however, nor u ire building of 6l0 niles OF
road against 296 10 date last year. = sale
| indication ss 10 The future.
Reports regarding the iron business are
not favorable. imports evidently having a
| depressing effect. British shipments OF
| iron and steel 10 this country were IL 453
| tons in February and 81 i5i tons in JanC-
AIRY. Prices Of kinds largely imported show
| weakness, aud the Philadelphia market is
| rendered more feverish By the counter
manding of some orders. in conseg gueDce Of a
strike in the Delaware works IL would
! not be strange II reaction shOuld
! soon begin. The rise which began IN 1871
lasted twenty months; the rise which began
| in issS lasted sixteen months. and the Use
I which began IN 1870. has now lasted about
! eighteen months. The volume OF legitimate
| business is large sBd increasing. a exchanges
/ and tonnage records show. bat speculation
! in most markets il dead. oil speculation
suffers from pending bills ia Ohio and
/ Pennsylvania
Pork products have reacted little. Wool
i tower the demand for goods being slsck.
| Wheat has declined one cent, corn about
| bali cent. and oats =
/ shade. with unusually small sales aud
! large receipts. Cotton has advanced
quarter and coffee baf cent and beef IS
| stronger, bat the prevailing uncertainty ef-
| fects most branches cf business uniayora-
/ oily, excepting ~ transactions are bas,ened
| 10 make shipments by rail before the change
10 rates AMI the ezps ration OF contracts.
The business failures occurring through
ogt the country during the lsst seven DAYS
number for The United States 2i8 f0r Can
sds a. total 80 compared with ZZl last
week aud z-l Tor the corresponding week OF
last year.